Management Update: Overall RFID market to hit $5.35 billion.

A new market data report released by ABI Research predicts that the overall RFID market will reach $5.35 billion this year, a glimmer of optimism after the economic slide required the firm to adjust its RFID forecasts downward for 2009 and 2010. ABI said that their forecast is for steady growth through the next five years, adding that it expects the overall RFID market to exceed $8.25 billion in 2014, representing a 14 percent compound annual growth rate (CAGR) over the next five years. The report, Semi-Annual RFID Market Data, contains extensive data on RFID revenues and unit shipments segmented by technology, application, and vertical market.